Hadean, a platform that promotes metaverse environments, announced on Friday, September 23, that it had raised $30 million in Series A funding with other Web3 supporters Molten Ventures and Fortnite maker Epic Games. This series of funding is said to be the most significant in recent months.
Hadean Raises $30 Million in Series A Funding
A few other companies participated in the funding round as well. Hadean confirmed that 2050 Capital, Alumni Ventures, Aster Capital, Entrepreneur First, and InQTe had joined them. Company 2050 Capital is a deep technology and science investment firm in its early stages. The aforementioned investor is interested in enterprise software, biotech, and engineering and science ventures.
Coindesk was the first to track this funding round update. According to the report, Hadean intends to develop infrastructure to support metaverse environments. "As an open platform for distributed cloud computing, Hadean can be thought of as the infrastructure that powers the metaverse so that it can become a reality," the London-based Web3 company said.
The funding is intended to assist the Web3 platform in developing more metaverse capabilities that will allow it to be more robust, interoperable, and secure as an online platform. As video game juggernaut Epic Games decided to pitch in the said funding round, Haldean is demonstrating a lot of potential and a promising vision.
"Hadean's computing power will provide the infrastructure required as we work to create a scalable metaverse," said Marc Petit, vice president of Epic's Unreal Engine Ecosystem.
More About Hadean and the Recent Funding Round
The Epic Games exec also mentioned that Hadean's capabilities completely complement Epic Games' Unreal Engine by allowing for its huge user base and allowing new creators and developers access to its newest tools. "We are pleased to contribute to Hadean's growth and look forward to continuing to collaborate to lay the foundation for the metaverse," Petit added.
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PR Newswire tells us that Hadean has developed key metaverse components, signed multi-year contracts with companies in the education and digital business sectors, and collaborated with the gaming and entertainment industries, including Minecraft, Pixelynx, Sony, and Gamescoin.
Hadean has also demonstrated its infrastructure technology at the 2019 Game Developers Conference with a 14,000-player Unreal Engine demo alongside EVE Online developer CCP Games. This is just one benchmark of how the company's technology enables multiple concurrent participants in a virtual environment.
Based on a VentureBeat report, this funding does not guarantee that everything will go smoothly. According to the report, metaverse programs necessitate advanced chips and high computing performance. Recent legislation and economic regulations indicate that this will be difficult to achieve.
Many investors, it goes without saying, are taking notice of the promising nature of blockchain-based platforms. The increased discussion of the metaverse and its alleged applications entices more people to participate in this new Internet fad. The metaverse is a virtual world that combines virtual reality, augmented reality, and the web.
